"The Luxury real estate market in Vancouver was one of the most feverish in Canada and even attracted world attention - until 2016".
This is when local authorities implemented several new taxes.
Prices peaked in August 2016 and for the next 3 years, the luxury market in Vancouver continued at a much more muted pace.
Strangely the Coronavirus pandemic has played a role in promoting growth.
Vancouver will again be a top destination for offshore buyers of Luxury properties. Meanwhile, local buyers are seeking to upgrade and acquire more space which has been driving the Luxury Market during the pandemic.
An insightful read about the Luxury Market in Vancouver, BC. To finish the rest of the article click the link below, page 96-97! https://issuu.com/thereportgroup/docs/coldwell_banker_global_luxury_report_2021
Monica Donetti,
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
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